Constantinople – Billionaire365

Ethereum (ETH) Constantinople Hard Fork Might Be Postponed For 2019

The next Ethereum (ETH) hard fork, the renowned Constantinople, could be postponed to 2019, due to operational problems in the test network. As reported by the Infura project through Twitter, there was a problem in the consensus mechanism of the Ropsten network, which made it obsolete, so the community of developers of Ethereum (EHT) is investigating what happened and make a call to use other systems for testing until further notice.

On October 13th, at the block height of 4,230,000, the protocol was activated in the Ropsten test network. However, then, there began to appear some faults. Next Friday, on October 19th, it was deliberated to postpone the implementation of Constantinople Ethereum (ETH) hard fork.

In the sector of crypto mining, the ASIC equipment is increasingly sophisticated and could put at risk the decentralization of blockchain networks, as some analysts indicate. Thus, the change of consensus mechanism in Ethereum (ETH) network seeks to test other models to validate the confirmation of transactions and make the process physically lighter, leaving the security of the network in the cryptographic and virtual environment.

Ethereum (ETH) Constantinople hard fork postponed for 2019

Platforms such as SIA have already announced updates to address the monopoly of crypto mining equipment of Innosilicon and Bitmain, although in this case there is no need to change the Proof of Work for another mechanism for blockchain validation, only to annul the competition they consider unfair.

Bitmain, primarily, has shown to have more power to control a part of the crypto mining equipment market and, therefore, they can give certain Ethereum (ETH) mining pools the ability to mine more and dominate the blockchain.

In turn, the Ethereum (ETH) network is designed as a platform that provides smart contracts, which, at least in theory, should be increasingly accessible by the user. The cost of ERC-20 tokens’ transactions, for example, is considered very high, an impediment to their wider adoption, and accessibility for users of customized cryptocurrencies.

Anna Galvez

The Ethereum (ETH) developers community met and reached an agreement to apply the Constantinople hard fork to the Ethereum Ropsten TestNet from block 4.200.000. The objective of implementing this update in a test network is to minimize the possible risks associated with this type of forks. The agreement was total, and the proposal was accepted without inconvenience. Thus, the tentative date of application of the hard fork would be October 9th, taking into account the current block generation speed. The fork will also be made in Kovan, from block 9.200.000.

Jameson Hudson moderated the meeting, and the co-creator of Ethereum (ETH), Vitalik Buterin, participated, although he did not offer more information.

Let’s remember that EIP 1013, Constantinople, created on April 20th, 2017, by Nick Savers, will allow for the transition of the Ethereum network consensus from Proof of Work to Proof of Participation. The beginning of Constantinople marks the end of the first phase of Metropolis, a planned hard fork for the development of the network.

This update will help the network to solve its scalability problems, according to its own developers, lowering the commissions for the transactions made in it by increasing the efficiency of the blockchain.

Constantinople to deploy on Ethereum (ETH) blockchain on October 9th

Additionally, they discussed the status of Prog PoW, a working test algorithm designed to “close the efficiency gap available to specialized ASICs.” The goal is to extend the lifespan of Ethereum (ETH) mining equipment. According to Kristy-Leigh Minehan, the code is ready.

However, the dev assured that until the community demonstrates a real interest in implementing the algorithm, the team will not advance further in its application throughout the network, since it involves a considerable investment that might not be included in the implementation of the hard fork.

“Until then I don’t think it’s worth wasting work hours or money on a project that could be ignored,” the dev said during the meeting.

In another meeting held this year, the team of developers decided to reduce Ethereum (ETH) mining and delay the application of the hardship pump on the network, to revalue the cryptocurrencies, in the middle of a tough year for ETH, especially concerning the fall in its price.

Anna Galvez